Is capital stock a determinant of unemployment?

Wages, Employment, Distribution and Growth: International Perspectives

Volumn , Issue , 2006, Pages 19-66

  Arestis, Philip ^a   Baddeley, Michelle ^a   Sawyer, Malcolm ^b  

^a UNIVERSITY OF CAMBRIDGE   (United Kingdom)

^b UNIVERSITY OF LEEDS   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 85015939571     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.1057/9780230371781     Document Type: Chapter

References (47)

1. Alexiou, C. and Pitelis, C. (2003) 'On Capital Shortages and European Unemployment: A Panel Data Investigation', Journal of Post Keynesian Economics, 25(4): 613-31.
2. Arestis, P. and Biefang-Frisancho Mariscal, I. (1997) 'Conflict, Effort and Capital Stock in UK Wage Determination', Empirica, 24(3): 179-93.
3. Arestis, P. and Biefang-Frisancho Mariscal, I. (1998) 'Capital Shortages and Asymmetries in UK Unemployment', Structural Change and Economic Dynamics, 9(2): 189-204.
4. Arestis, P. and Biefang-Frisancho Mariscal, I. (2000) 'Capital Stock, Unemployment and Wages in the UK and Germany', Scottish Journal of Political Economy, 47(5): 487-503.
5. Baker, D., Glyn, A., Howell, D. and Schmitt, D. (2004) 'Labour Market Institutions and Unemployment: A Critical Assessment of the Cross-Country Evidence', in D. Howell (ed.), Fighting Unemployment: The Limits of Free Market Orthodoxy (Oxford: Oxford University Press).
6. Ball, L. (1999) 'Aggregate Demand and Long-run Unemployment', Brookings Papers on Economic Activity, 2: 89-251.
7. Bean, C.R. (1989) 'Capital Shortage and Persistent Unemployment', Economic Policy, 4(1): 12-53.
8. Bean, C.R., Layard, R.G. and Nickell, SJ. (1986) 'The Rise in Unemployment: A Multi-Country Study', Economica, Supplement, 53(210): Sl-22.
9. Blanchard, D.G. (1995) 'Preface', in R. Cross (ed.), The Natural Rate of Unemployment:Reflections on 25 Years of the Hypothesis (Cambridge: Cambridge University Press).
10. Blanchard, OJ. and Jimeno, J.F. (1995) 'Structural Unemployment: Spain versus Portugal', American Economic Review, 85(2): 212-18.
11. Blanchard, OJ. and Summers, L.H. (1986) 'Hysteresis and the European Unemployment Problem', in S. Fischer (ed.), NBER Macroeconomics Annual 1986 (Cambridge, Mass.: MIT Press).
12. Blanchard, O.J. and Wolfers, J. (2000) 'The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence', Economic Journal, 110(462): C1-C33.
13. Dixon, H. (1998) 'Controversy: The Macroeconomics of Unemployment in the OECD', Economic Journal, 108(448): 779-81.
14. Dow, J.C.R. (1998) Major Recessions: Britain and the World, 1920-1995 (London and New York: Oxford University Press).
15. Elmskov, J. (1993) 'High and Persistent Unemployment: Assessment of the Problem and its Causes', Economics Department Working Paper, 132 (Paris: OECD).
16. Elmeskov, J., Martin, J. and Scarpetta, S. (1998) 'Key Lessons for Labour Market Reforms: Evidence from OECD Countries Experience', Swedish Economic Policy Review, 5(2): 205-52.
17. Glyn, A. (2002), 'Labour Market Success and Labour Market Reform: Lessons from Ireland and New Zealand', mimeo, Oxford University, http:/www.economics.ox. ac.uk/Members/andrew.glyn/IrelandandNZ4.pdf.
18. Gordon, RJ. (1997) 'Is there a Trade-off Between Unemployment and Productivity Growth?', in D.J. Snower and G. De la Dehesa (eds), Unemployment Policy: Government Options for the Labour Market (Cambridge: Cambridge University Press).
19. Hahn, F. (1995) 'Theoretical Reflections on the "Natural Rate of Unemployment" ', in R. Cross (ed.), The Natural Rate of Unemployment: Reflections on 25 Years of the Hypothesis (Cambridge: Cambridge University Press).
20. Harris, R.I.D. (1995) Using Cointegration Analysis in Econometric Modelling (London:Prentice Hall).
21. Hunter, J. (1992) 'Cointegrating Exogeneity', Economics Letters, 34: 33-5.
22. IMF (2003) 'Unemployment and Labour Market Institutions: Why Reforms Pay Off, World Economic Outlook (April, chapter IV): 129-50 (Washington, DC:International Monetary Fund).
23. Jerger, J. (1991) 'Wage Gaps, Capital Formation and Unemployment', Jahrbuecher fuer Nationaloekonomie und Statisik, 208(3): 264-71.
24. Johansen, S. (1988) 'Statistical Analysis of Cointegrating Vectors', Journal of Economic Dynamics and Control, 12: 231-54.
25. Johansen, S. (1995) Likelihood-based Inference in Cointegrated Vector Autoregressive Models (Oxford: Oxford University Press).
26. Johansen, S. and Juselius, K. (1990) 'Maximum Likelihood Estimation and Inference on Cointegration with Applications to the Demand for Money', Oxford Bulletin of Economics and Statistics, 52: 169-210.
27. Kapadia, S. (2004) 'The Capital Stock and Equilibrium Unemployment: A New Theoretical Perspective', mimeo (Balliol College, Oxford University).
28. Kitson, M. and Michie, J. (1996) 'Britain's Industrial Performance Since 1960:Underinvestment and Relative Decline', Economic Journal, 106: 196-212.
29. Layard, R., Nickell, S. and Jackman, R. (1991) Unemployment (Oxford: Oxford University Press).
30. Layard, R. and Nickell, S. (1999) 'Labour Market Institutions and Economic Performance', in O. Ashenfelter and D. Card (eds), Handbook of Labour Economics, 3C: 3029-86.
31. Lindbeck, A. (1993) Unemployment and Macroeconomics (Cambridge, Mass.: MIT).
32. Manning, A. (1992) 'Productivity Growth, Wage Setting and the Equilibrium Rate of Unemployment', CEP Discussion Paper no. 63 (London: London School of Economics).
33. Miaouli, N. (2001) 'Employment and Capital Accumulation in Unionised Labour Markets', International Review of Applied Economics, 15(1): 5-30.
34. Mosconi, R. and Giannini, C. (1992) 'Non-causality in Cointegrated System:Representation, Estimation and Testing', Oxford Bulletin of Economics and Statistics, 48:300-417.
35. Nickell, S. (1987) 'Why is Wage Inflation in Britain so High?', Oxford Bulletin of Economics and Statistics, 49: 103-29.
36. Nickell, S. (1997) 'Unemployment and Labour Market Rigidities: Europe Versus North America', lournal of Economic Perspectives, 11(3): 55-74.
37. Nickell, S., Nunziata, L. and Ochel, W. (2002) Unemployment in the OECD since the 1960s. What Do We Know (London: Bank of England). http:/www.nuff.ox. ac.uk/users/nunziata/publications_files/nicknun02.pdf.
38. OECD (1994) OECD Jobs Study, Evidence and Explanations, Part I: Labour Market Trends and Underlying Forces of Change (Paris: OECD).
39. OECD (1999) OECD Employment Outlook, June (Paris: OECD).
40. Palley, T.I. (2001) 'The Role of Institutions and Policies in Creating High European Unemployment: The Evidence', Levy Economics Institute of Bard College Working Paper Series, 336 (August).
41. Rowthorn, R.E. (1995) 'Capital Formation and Unemployment', Oxford Review of Economic Policy, 11(1): 26-39.
42. Rowthorn, R.E. (1999) 'Unemployment, Wage Bargaining and Capital-labour Substitution', Cambridge Journal of Economics, 23(4): 413-26.
43. Sawyer, M. (2004) 'The NAIRU, Labour Market "Flexibility" and Full Employment', in J. Stanford and L. Vosko (eds), Challenging the Market: The Struggle to Regulate Work and Income (McGill: Queen's University Press), 33-50.
44. Siebert, H. (1997) 'Labour Market Rigidities: At the Root of Unemployment Problem', Journal of Economic Perspectives, 11(3): 37-54.
45. Stiglitz, J.E. (2002) Globalisation and its Discontents (London: Allen Lane).
46. Stockhammer, E. (2004) 'Explaining European Unemployment: Testing the NAIRU Hypothesis and a Keynesian Approach', International Review of Applied Economics, 18(1): 3-24.
47. Worswick, D. (1985) 'Jobs for All?', Economic Journal, 95(1): 1-15.